Economy

Retail sales decline 79% from two years earlier

A boy waits for customers before closing the shop in response to the Vijayawada Chamber of Commerce and Industry's call for closure of shops by 2 om daily in view of Covid in Vijayawada on Wednesday.   | Photo Credit: V. Raju

Retail sales in India slipped 79% in May compared with pre-COVID sales in the same month in 2019, as businesses across States were closed due to the second wave of the pandemic, a survey by Retailers Association of India (RAI) showed.

The decline in sales was the steepest in West and North India, which witnessed an 83% dip last month as compared with May 2019, RAI said in a statement.

Eastern region saw a decline of 75%, while South was relatively better with a contraction of 73% as compared to the same month in 2019. On a sequential basis, the decline in May was much steeper compared to the previous month, when overall sales across India were down 49% as compared with April 2019, the survey showed.

“Retailers are looking forward to some improvement in June with gradual unlocking. However, the industry needs the collective support of various government bodies to tide over the present situation,” RAI CEO Kumar Rajagopalan said.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Jul 24, 2021 9:53:19 AM | https://www.thehindu.com/business/Economy/retail-sales-decline-79-from-two-years-earlier/article34825641.ece

Next Story